DislikedHi mentor, i am stuked in these two trades pleas help what to do now , i dont use stop and then fulishly hedge the losing trade now this is the scenario, profit is less and loss is huge. can i close both simaltaneously or close buy trade and left sell one for some loss recovery or any other solution for this you suggest {image}Ignored
Honestly close them. Take it as a learning opportunity. Always use stops. We should only hedge based on what we see on the higher TF and take an entry, usual in this case we should already be in the sale.
Also I can't tell where your entry points for these trades are from?
For example the way I trade based on Alan's method, i take the 1 hour reference but my entry points are on the 5 mins. So you should show us that chart as well. Right now your entry points make no sense to me.
I think for yourself. You need to come up with a money management system that suits your needs.
For example my entry points and stop losses are quite shortish on the 5 min chat, but my TP target are 4:1 with money management i also bank as the trade is going my way (i have a distance of 8 - 10 pips per bank).
What I am seeing here is a huge NO NO , in terms of trading. Your hedge makes even less sense to me, as when I do a hedge it usual my buy is below my sell. There was a buy at 08 10 gmt, but it was a scalper and i stopped out at be.
I think your sell kinda makes sense did you take it from a div on a lower TF?
Again though there is no Money Management which is the main issue.